Crypto News – Crypto market aficionados’ attention has been called to a big whale transaction circling the cryptocurrency XRP, despite the recent positive developments made by the Ripple community inside the crypto ecosystem.
Increased XRP Whale Activity: Analyst Ali Martinez Expects XRP Price Rebound
Huge quantities of XRP were moved by a whale as of today, November 18, from a controlled exchange to an unidentified wallet. After the whale movement, the price of XRP somewhat dropped.
A company called Whale Alert, which tracks whale transactions, released information on the transfer and attracted a lot of attention from the larger crypto marketplaces, indicating a notable change in the value of XRP.
Ali Martinez has a Different Opinion on the Issue
An unexpected 16.60 million XRP were moved today from an unknown Bitso address, rLSn6Z3T8u…Fdn5CyGujK, to an unknown wallet, rHBXf41ccu…9EtsJ5aLm1, according to data made public by Whale Alert. As of this writing, Bitso has moved $10.08 million worth of XRP to the unidentified wallet. The transaction noted earlier, in which tokens were removed from Bitso and moved to an unidentified wallet, illustrates a reduction in supply, which drives up XRP’s price and demand.
Ali Martinez, a prominent crypto expert, had a unique viewpoint on this incident. Martinez noted that XRP had dropped 18% in the previous ten days and that, in contrast to the current circumstances, there had been a notable increase in whale transactions and assets.